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Dec 7, 2012
12/12
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the fiscal cliff. we'll talk it all with top white house economic adviser dr. alan krueger. shares of whirlpool have more than double d this year. an exclusive with the ceo is coming up and opening bell on a friday morning is coming up next. can i still ship a gift in time for christmas? yeah, sure you can. great. where's your gift? uh... whew. [ male announcer ] break from the holiday stress. ship fedex express by december 22nd for christmas delivery. i have obligations. cute tobligations, but obligations.g. i need to rethink the core of my portfolio. what i really need is sleep. introducing the ishares core, building blocks for the heart of your portfolio. find out why 9 out of 10 large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. ♪ [ male announcer ] this is karen and jeremiah. they don't know it yet, but they're gonna fall in love, get married, hav
the fiscal cliff. we'll talk it all with top white house economic adviser dr. alan krueger. shares of whirlpool have more than double d this year. an exclusive with the ceo is coming up and opening bell on a friday morning is coming up next. can i still ship a gift in time for christmas? yeah, sure you can. great. where's your gift? uh... whew. [ male announcer ] break from the holiday stress. ship fedex express by december 22nd for christmas delivery. i have obligations. cute tobligations, but...
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Nov 20, 2012
11/12
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. >> yesterday there was hope the president has something going fiscal cliff wise. you get that thing going it transcends a lot. lowe's was good. home depot. did you see housing numbers today? something good is happening in the country. we got something good going in housing. good in autos. these are very strong numbers despite sandy you get a good read away from -- >> congress was out on friday and president was begun on friday and we didn't have massive rally we saw yesterday. >> we had option expiration. i think the idea that he's talking to people who have been -- the idea that the white house is talking to business people and let's say you're boeing. you got a lot of congress people that you could call and say, listen, this is real bad for us. we're the ones getting hurt. do you remember your roots, republicans? you're pro-defense. want to raise the defense budget. by doing this you'll cut our defense budget. the democrats did flip on a lot of things that republicans have got to be worried about. this is not just -- the defense budget has always been championed
. >> yesterday there was hope the president has something going fiscal cliff wise. you get that thing going it transcends a lot. lowe's was good. home depot. did you see housing numbers today? something good is happening in the country. we got something good going in housing. good in autos. these are very strong numbers despite sandy you get a good read away from -- >> congress was out on friday and president was begun on friday and we didn't have massive rally we saw yesterday....
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Dec 12, 2012
12/12
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the longer the white house slow walks this discussion, the closer our economy gets to the fiscal cliff, and the more american jobs are placed in jeopardy. >> good morning. the president has said on a daily basis that we should be passing a balanced plan. but what we hear from the president is continuing only discussion on one side of the ledger. it has always been about tax rate increases, and nothing about spending. and we insist, say, look, mr. president, let's talk about a balanced plan, but where are your specifics on the spending cuts? even his own advisers say that any kind of agreement that we come to has to deal with the prime drivers of our deficit, which is the spending, particularly the health care entitlement programs. so we ask the president to please sit down with us and be specific and let's get that balanced plan. you know, it's interesting that the senate has passed a bill that is a bill calling for increased revenues of $850 billion. the president continues to say, support that bill, pass that bill. well, how is that the case when he continues to say we also need $1.4
the longer the white house slow walks this discussion, the closer our economy gets to the fiscal cliff, and the more american jobs are placed in jeopardy. >> good morning. the president has said on a daily basis that we should be passing a balanced plan. but what we hear from the president is continuing only discussion on one side of the ledger. it has always been about tax rate increases, and nothing about spending. and we insist, say, look, mr. president, let's talk about a balanced...
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Nov 27, 2012
11/12
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on the fiscal cliff. the irony of it all. would he be your first choice? is he going to get the job done? >> actually, i wrote a column recently suggesting this might be a nixon to china moment for secretary geithner that he could perhaps more aggressively engage the wall street community to ante up more. they want fiscal responsibility. they're right. we need it for long-term stable financial systems. we need fiscal responsibility in washington, but their ways like getting rid of preferences for investment income, there are ways to perhaps ante up. i hope tim views this as a moment to dispel critics like myself and engage them and come up with a plan that makes sure they share a little bit of the pain, too. >> you're being much kinder than i would be. the feeling i had in your book is that this man is not ingenuous to what he says. bailouts, in your opinion, you said, you know, he should have been trying -- mr. bail outer should have tried to protect citi from you, but in essence is he forced citi on the
on the fiscal cliff. the irony of it all. would he be your first choice? is he going to get the job done? >> actually, i wrote a column recently suggesting this might be a nixon to china moment for secretary geithner that he could perhaps more aggressively engage the wall street community to ante up more. they want fiscal responsibility. they're right. we need it for long-term stable financial systems. we need fiscal responsibility in washington, but their ways like getting rid of...
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Nov 29, 2012
11/12
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the congress and the administration must address the fiscal cliff. any plan to reduce the deficit should quote start small and then grow very substantially over time. so dudley basically agreeing with the take that sandy is a bigger event, and then you want to add on top of that dudley's concerns about the fiscal cliff coming our way. >> what does this mean for the retailers because right now we have the impact of sandy, because they're confined pretty much to november. we had this seasonally strong period for retail sales especially for the holiday season. but does that mean the kruk -- money is being spent instead on gypsum board and other materials that need to be bought for reconstruction? >> there is a big disconnect here, we had terrific consumer confidence numbers, so i think the nation itself should be stronger. the high income areas, remember, these were high income areas, a lot of times we're used to storms not hitting the high income. but i do think that we're going to see it pushed to 2013. this is not fukushima where they just decided th
the congress and the administration must address the fiscal cliff. any plan to reduce the deficit should quote start small and then grow very substantially over time. so dudley basically agreeing with the take that sandy is a bigger event, and then you want to add on top of that dudley's concerns about the fiscal cliff coming our way. >> what does this mean for the retailers because right now we have the impact of sandy, because they're confined pretty much to november. we had this...
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Nov 14, 2012
11/12
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housing does continue to do well. if the fiscal cliff intrudes, you should sell. if you believe it will go and 120 million people -- you showed me those tax rates from the "usa today" and that's an impact play. that's an impact. i don't want t to home depot and spend $55 on the average ticket if i feel like the tax increase. >> holding onto gains today even though valuation is stretched on a five-year basis. >> other people recommending lowe's as a catchup play. lowe's is an inferior company to home depot. if the industry really comes back because of sandy -- i think that people are -- there's a lot of discussion about what sandy can mean. home depot lost more stores and had more stores close off irene but substantial off sandy. i have to get to home depot that is in long island. i think that's going to be the tell this weekend if we can get there, david. >> are we going to try? >> you both are going to try. >> i want to take david to home depot. they have everything there. you would be just shocked. >> going out for ice cream. >> as long as we don't have to try o
housing does continue to do well. if the fiscal cliff intrudes, you should sell. if you believe it will go and 120 million people -- you showed me those tax rates from the "usa today" and that's an impact play. that's an impact. i don't want t to home depot and spend $55 on the average ticket if i feel like the tax increase. >> holding onto gains today even though valuation is stretched on a five-year basis. >> other people recommending lowe's as a catchup play. lowe's is...
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Nov 28, 2012
11/12
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fiscal cliff. the president meeting with more ceos today bringing his plan straight to the people culminating in an appearance in a factory later this week. >> costco joins the dividend parting initiating a $7 a share payout on top of the regular dividend. >> and a shake-up at groupon. the board may be considering co-founder being released. >> there's powerball fever. 500 million big ones in the pot. how would you spend the money and how does the fiscal cliff factor in? we'll talk strategy with a former lottery winner. >> we begin with the fiscal cliff. this afternoon president obama is scheduled to meet with several business leaders including ceos of home depot, macy's, caterpillar and at&t but futures are falling with signs there are troubles with negotiations on capitol hill. a market credible deal to solve the cliff is key to economic growth. >> that annual growth idea, that prospect is real in my view if we actually did get a market credible $4 trillion plan. the markets would realize those gu
fiscal cliff. the president meeting with more ceos today bringing his plan straight to the people culminating in an appearance in a factory later this week. >> costco joins the dividend parting initiating a $7 a share payout on top of the regular dividend. >> and a shake-up at groupon. the board may be considering co-founder being released. >> there's powerball fever. 500 million big ones in the pot. how would you spend the money and how does the fiscal cliff factor in? we'll...
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Dec 10, 2012
12/12
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. >> let's talk about the fiscal cliff. also on the radar this morning, after president obama and house speaker john boehner both were tight-lipped how the negotiations went. the co-founder of the fix the debt campaign, he was asked about the chances of striking a deal to avoid the cliff. >> it's probably more like a 40% chance we'll actually get it done before the end of the year. probably 25% chance we'll get it done right after the end of the year. and then there's that horrible 35% chance that we'll still go over the cliff and have pure chaos. but i think the chances of getting it done now are better. i think that's what's key. >> be sure to tune in tomorrow for the fiscal cliff coverage live from washington. mission critical, rise above d.c., all day long. becky quick, jim cramer, maria bartiromo holding their feet to the fire about where they stand on the fiscal cliff and how they'll do their part to rise above partisan politics and reach a deal. now, there are some bowles comments. 40%, yeah, but the odds are much be
. >> let's talk about the fiscal cliff. also on the radar this morning, after president obama and house speaker john boehner both were tight-lipped how the negotiations went. the co-founder of the fix the debt campaign, he was asked about the chances of striking a deal to avoid the cliff. >> it's probably more like a 40% chance we'll actually get it done before the end of the year. probably 25% chance we'll get it done right after the end of the year. and then there's that horrible...
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Nov 21, 2012
11/12
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we started asking this question, 60% of the house holds were not following the fiscal cliff back in june. now 40% of households are not following the fiscal cliff. you've seen some improvement but i would argue as much as cnbc wants to talk about the fiscal cliff and everyone else, that means households will pay attention to this a bit more. that's why we thought this confidence number from today was sort of interesting. you saw a slight scaling back. as this debate about the fiscal cliff continues, it could weigh on confidence as a result and translate into lower spending. that's something policy makers need to be aware of. >> in terms of the actual impact on take-home pay, i imagine it depends on which income brackets and what assumptions you're making. what assumptions are you making and who do you think will have the biggest hit? >> we think higher taxes on the wealthy. first quarter gdp of about 1%. if we weren't talking about the fiscal cliff at all, your benchmark, we would be talking about 2% gdp. 1.5% to 2% gdp. it has a sizeable impact if you just raise tax on the wealthy. this
we started asking this question, 60% of the house holds were not following the fiscal cliff back in june. now 40% of households are not following the fiscal cliff. you've seen some improvement but i would argue as much as cnbc wants to talk about the fiscal cliff and everyone else, that means households will pay attention to this a bit more. that's why we thought this confidence number from today was sort of interesting. you saw a slight scaling back. as this debate about the fiscal cliff...
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Oct 5, 2012
10/12
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what does the house side done to address or alleviate the fiscal cliff issues. >> first we did a bill asking the president to tell us exactly what he was going to do as far as where he was going to get the most to pay off the $1.2 trillion, and he's supposed to return and has a little bit, but he hasn't defined that yet. the more important thing is that we want to delay things. we're in the silly season right now with the election and so we really didn't solve all the problems but if we continue with the sequestration and particularly with the military, even panetta has said that there's a real fear because for national security. so, i think that we've got a bill out there in the house that will delay the military part of it for the next year. >> speaking of delays on a job day not to interviewpoint, but there's also an issue that the press seems to be pretty big on that pink slips -- there's rules. pink slips need to go out regarding the job loss that will be ultimate if the sequestration proceeds but they are not going out. any thoughts on that. >> they are not going out because the
what does the house side done to address or alleviate the fiscal cliff issues. >> first we did a bill asking the president to tell us exactly what he was going to do as far as where he was going to get the most to pay off the $1.2 trillion, and he's supposed to return and has a little bit, but he hasn't defined that yet. the more important thing is that we want to delay things. we're in the silly season right now with the election and so we really didn't solve all the problems but if we...
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Dec 28, 2012
12/12
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tax reform is driven by the fiscal cliff debate. it is the only way to maximize revenue while minimizing tax rate increases. but this white house has always been skeptical tax reform could become a reality given support for popular loopholes so count this obama goal unlikely to happen. comprehensive immigration reform took a back seat in president obama's first term. but after hispanic voters helped him win a second one, he can't avoid it now. republicans know fighting the issue could bury them in future elections. it's likely to happen. and the school massacre in connecticut is now elevated gun control. democrats had been steering away from the issue out of political fear. connecticut changed the equation and the president will offer proposals in his state of the union. he'll face strong opposition from republicans and the gun lobby. that means bet on some action but not the sort of restrictions democratic liberals prefer. >> our thanks to john harwood. let's try to go back to mary thompson and see what is moving at the new york st
tax reform is driven by the fiscal cliff debate. it is the only way to maximize revenue while minimizing tax rate increases. but this white house has always been skeptical tax reform could become a reality given support for popular loopholes so count this obama goal unlikely to happen. comprehensive immigration reform took a back seat in president obama's first term. but after hispanic voters helped him win a second one, he can't avoid it now. republicans know fighting the issue could bury them...
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Nov 12, 2012
11/12
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cliff. lawmakers over the weekend sound optimistic that a deal will be reached. how likely is that? >> jeffries gets bought in a $3.7 billion deal. leucadia is described as a mini berkshire hathaway. >> a war to see who will open earliest on black friday or on thanksgiving itself as it turns out. >> first up, after coming off the worst week for the markets in several months, wall street looking for signs the president and lawmakers can strike a deal on the cliff before the end of the year. on the sunday talk shows some expressed optimism that a deal could be struck. >> i don't really understand why republicans don't take obama's offer to freeze taxes for everyone below 250,000. make it 500, make it a million. the republican party will fall on half who voted democratic and half who live in hollywood. >> we're beginning to see some really from the right side of the party saying let's get this done. we learned a lesson of sorts in the election. don't let it go to waste. >> seems like there's a
cliff. lawmakers over the weekend sound optimistic that a deal will be reached. how likely is that? >> jeffries gets bought in a $3.7 billion deal. leucadia is described as a mini berkshire hathaway. >> a war to see who will open earliest on black friday or on thanksgiving itself as it turns out. >> first up, after coming off the worst week for the markets in several months, wall street looking for signs the president and lawmakers can strike a deal on the cliff before the end...
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Dec 3, 2012
12/12
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first up, we're one month away from the fiscal cliff and so far the white house and congressional republicans are still in disagreement over how to reduce the deficit and avoid a raft of tax hikes and spending cuts. yesterday our own jim cramer and maria bartiromo were on "meet the press" and cramer had a message for fellow panelists and father of the anti-tax pledge, grover norquist. >> most ceos are republican. they're on board. they're not on board with you. they're not on board with you because they fear your view. they think you do not favor going -- you favor going over the cliff. that's what they think. they think that you favor -- >> just for the record since we're on tv. that's silly if they think that they shouldn't be ceos. >> it doesn't really matter. that's what they think. >> i want you to walk me up to that moment. >> behind the record. i like that too. >> i'm stuck. like grover is stuck with this pledge he made everybody take which is that they have to go over the cliff because they obviously will not ever say the word tax. they will only say revenue. i'm stuck speaking to man
first up, we're one month away from the fiscal cliff and so far the white house and congressional republicans are still in disagreement over how to reduce the deficit and avoid a raft of tax hikes and spending cuts. yesterday our own jim cramer and maria bartiromo were on "meet the press" and cramer had a message for fellow panelists and father of the anti-tax pledge, grover norquist. >> most ceos are republican. they're on board. they're not on board with you. they're not on...
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Dec 11, 2012
12/12
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he also added he thinks house speaker boehner has been a good leader during the fiscal cliff negotiations. and then we were joined by bob corker and bob conrad. corker said we need to focus more on entitlements now, and he will not sign any package that doesn't deal with entitlements at this point. conrad said more, not less, should be included in some sort of a big deal. by big deal, he means over $4 trillion. we are now just 20 days away from the fiscal cliff deadline. we continue to bring both sides of the aisle to sit down together. congressman sander levin is a ranking member of the house ways and means committee. and a republican from new jersey, the vice chairman of the house budget committee and a member of the house financial services committee. gentlemen, thank you both for being here. >> thank you. >> we just sat down with senators conrad and corker. they seem to agree on a lot of areas. one of those areas is they think we need to negotiate up from this point, not down from this point and cut some sort of a deal that is 4 trillion or greater when you add up the tax increases. c
he also added he thinks house speaker boehner has been a good leader during the fiscal cliff negotiations. and then we were joined by bob corker and bob conrad. corker said we need to focus more on entitlements now, and he will not sign any package that doesn't deal with entitlements at this point. conrad said more, not less, should be included in some sort of a big deal. by big deal, he means over $4 trillion. we are now just 20 days away from the fiscal cliff deadline. we continue to bring...
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Aug 22, 2012
08/12
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the fiscal cliff is something that people are concerned about, but it's not a topic of everyday conversation. a topic of everyday conversation is what's going to happen with the election. are we going to see the two houses locked in the hands of the republicans and the house? >> that's why this missouri race is so key, right? >> absolutely. so this is all going on. meanwhile, across the pond, other things are happening. >> so what's your take, art, on why people are not willing to take profits with the markets at multi-year highs at this point? is there a fear of not being long the markets when the ecb/europe/the fed does something? why are we here at the stand still? we reach those levels and sort of hold on? >> i think there may be a couple of things going on, whether it's hedge funds or others. to be part of the market has been the most profitable strategy so far. a lot of other theories have not worked. now, if you look at the market in terms of the economy, you've been basically a naysayer. you've stood back and said, wait a minute, 1.5% gdp growth. why are we at new highs again? but if
the fiscal cliff is something that people are concerned about, but it's not a topic of everyday conversation. a topic of everyday conversation is what's going to happen with the election. are we going to see the two houses locked in the hands of the republicans and the house? >> that's why this missouri race is so key, right? >> absolutely. so this is all going on. meanwhile, across the pond, other things are happening. >> so what's your take, art, on why people are not...
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Aug 14, 2012
08/12
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the fiscal cliff as an opportunity to try to correct that problem and to correct our long-term fiscal problem. but try to blame paul ryan or even -- any of the house members for his failure is just really inaccurate, in my opinion. the failure was the president didn't endorse it. >> i know you've seen some of the reporting, though -- correctly or not, put him at the middle of the collapse of some grand bargain. and you're telling me that you think he has it in him to work with the democrats and not simply demand more to the point where the whole thing goes away. >> absolutely. and i think he's made that clear in the discussions i've heard. he has been pretty forthright. he said if we get very significant restraint and entitlement spending that is not only scorable, but is enforceable, and that's critical. because in the out years, congress can reverse that and tends to when it comes to social spending then he would consider revenues as part of a revenue reform package, along the lines of reagan ross ton could you ski. and i think that's the framework for a grand bargain. you do much m
the fiscal cliff as an opportunity to try to correct that problem and to correct our long-term fiscal problem. but try to blame paul ryan or even -- any of the house members for his failure is just really inaccurate, in my opinion. the failure was the president didn't endorse it. >> i know you've seen some of the reporting, though -- correctly or not, put him at the middle of the collapse of some grand bargain. and you're telling me that you think he has it in him to work with the...